Can I retire at age 58 with 657,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $657,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$54,254$53,771$53,300$52,839$52,390$52,016
2 years$26,859$26,358$25,874$25,404$24,948$24,571
3 years$17,728$17,226$16,742$16,276$15,828$15,459
4 years$13,163$12,663$12,184$11,726$11,289$10,932
5 years$10,425$9,928$9,455$9,007$8,581$8,237
6 years$8,601$8,107$7,641$7,203$6,790$6,458
7 years$7,298$6,808$6,350$5,922$5,522$5,204
8 years$6,321$5,836$5,385$4,968$4,581$4,276
9 years$5,562$5,081$4,638$4,231$3,858$3,565
10 years$4,955$4,479$4,044$3,647$3,287$3,007
11 years$4,459$3,987$3,560$3,174$2,827$2,560
12 years$4,045$3,579$3,159$2,784$2,450$2,195
13 years$3,696$3,234$2,823$2,458$2,136$1,894
14 years$3,396$2,940$2,536$2,182$1,873$1,642
15 years$3,137$2,685$2,290$1,946$1,649$1,429
16 years$2,911$2,464$2,076$1,742$1,457$1,249
17 years$2,711$2,269$1,889$1,566$1,292$1,095
18 years$2,534$2,097$1,725$1,411$1,149$962
19 years$2,375$1,943$1,579$1,275$1,024$847
20 years$2,233$1,806$1,449$1,155$915$747
21 years$2,104$1,682$1,333$1,048$819$661
22 years$1,987$1,570$1,228$953$734$585
23 years$1,881$1,468$1,134$868$659$518
24 years$1,783$1,376$1,049$791$592$460
25 years$1,694$1,291$971$723$533$409
26 years$1,611$1,213$901$661$480$363
27 years$1,535$1,142$837$605$433$323
28 years$1,464$1,076$778$554$390$288
29 years$1,399$1,015$724$508$352$256
30 years$1,337$959$674$466$318$228
31 years$1,280$906$629$428$288$204
32 years$1,227$858$586$394$260$182
33 years$1,177$812$548$362$236$162
34 years$1,130$770$512$333$213$145
35 years$1,085$730$478$307$193$129
36 years$1,043$693$447$282$175$115
37 years$1,004$658$419$260$159$103
38 years$967$625$392$240$144$92
39 years$932$595$367$221$131$82
40 years$898$566$344$204$118$74
41 years$867$539$323$188$107$66
42 years$836$513$303$174$97$59
43 years$808$489$284$160$88$53
44 years$781$466$267$148$80$47
45 years$755$444$251$137$73$42
46 years$730$424$235$126$66$38
47 years$706$404$221$117$60$34
48 years$684$386$208$108$55$30
49 years$662$369$195$100$50$27
50 years$641$352$184$92$45$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $657,000, adding $6,252 every year, while hoping to spend $34,109 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 75/8/17 Blend
57$657,000$657,000$657,000$657,000
58$730,463$695,642$685,458$781,982
59$768,678$693,437$672,130$814,721
60$809,649$689,980$657,211$845,770
61$853,619$685,175$640,613$878,894
62$900,857$678,918$622,244$914,289
63$951,660$671,100$602,004$952,173
64$1,006,350$661,605$579,791$992,786
65$1,065,283$650,309$555,500$1,036,394
66$1,128,851$637,083$529,018$1,083,288
67$1,197,482$621,789$500,229$1,133,793
68$1,271,649$604,279$469,010$1,188,263
69$1,351,869$584,401$435,234$1,247,093
70$1,438,713$561,990$398,767$1,310,715
71$1,532,806$536,873$359,471$1,379,611
72$1,634,839$508,866$317,200$1,454,306
73$1,745,569$477,776$271,802$1,535,386
74$1,865,827$443,398$223,118$1,623,494
75$1,996,532$405,515$170,983$1,719,339
76$2,138,692$363,898$115,224$1,823,706
77$2,293,414$318,305$55,660$1,937,460
78$2,461,920$268,480$0$2,061,554
79$2,645,554$214,153$0$2,198,477
80$2,845,792$155,038$0$2,358,822
81$3,064,262$90,834$0$2,533,803
82$3,302,753$21,222$0$2,724,872
83$3,563,239$0$0$2,933,630
84$3,847,887$0$0$3,166,606
85$4,159,087$0$0$3,423,382
86$4,499,469$0$0$3,704,264
87$4,871,928$0$0$4,011,644
88$5,279,655$0$0$4,348,157
89$5,726,159$0$0$4,716,705
90$6,215,308$0$0$5,120,484
91$6,751,361$0$0$5,563,012
92$7,339,006$0$0$6,048,166
93$7,983,410$0$0$6,580,214
94$8,690,262$0$0$7,163,858
95$9,465,828$0$0$7,804,276
96$10,317,010$0$0$8,507,172
97$11,251,412$0$0$9,278,830
98$12,277,407$0$0$10,126,171
99$13,404,222$0$0$11,056,818
100$14,642,019$0$0$12,079,172